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Qtum Token Crowdsale

Qtum “Blockchain for Business” Breaks New Ground by Debuting on Six Exchanges at Once in Token Crowdsale

SINGAPORE -- March 9, 2017 -- The Qtum Blockchain Foundation (www.qtum.org) today announced plans to hold its upcoming QTUM token crowdsale to raise over 13,000 BTC on six exchanges at once, a first of its kind. The proceeds will be used to fuel the growth of its public blockchain for business. The 30-day token crowdsale will begin March 16, 2017, offering 51 million QTUM for either Bitcoin or Ether. QTUM are the cryptographic software tokens used to engage with distributed applications and smart contracts on the Qtum platform, and will serve as the staking currency of the Qtum blockchain, as well as fuel for computational operations performed by the Qtum network. Details on the Qtum concept can be found in the company’s white papers.

“This crowdsale will accelerate the development of the Qtum Project and assure that we will have a stable blockchain platform for industry and consumer smart contracts. Given the commercial interest for making IoT, financial, and supply chain applications on blockchain, we imagine Qtum can be the robust infrastructure these applications are built on.” – Patrick Dai, co-founder of the Qtum Project

With the setting of Qtum’s Genesis Block, one hundred million QTUM will be created as the total token supply, on top of which ~1 percent annual Proof of Stake inflation will be added. The crowdsale will start at 12 pm GMT on March 16, 2017 and end at 12 pm GMT on April 15, 2017 or when all of the 51 million QTUM tokens are sold. The QTUM price against ETH will be determined at the start of the sale according to the ETH/BTC market price.

The total QTUM token supply will be allocated in three primary ways. 51 percent of QTUM tokens (51 million) will be distributed through the crowdsale. This will fund the Qtum Foundation’s operation for the next four years, including development, administration, marketing, and financial/legal consulting. Remaining unsold tokens will be sold privately to institutional investors. 29 percent of QTUM tokens (29 million) will be allocated to community initiatives concerning business development, research, education, and market expansion. 20 percent of QTUM tokens (20 million) will be distributed among founders, early backers, and the development team.

Qtum recently announced a partnership with one of the leading professional service providers, PwC, which will support Qtum’s efforts to help fuel blockchain adoption across global business sectors. Qtum has raised $1 million from investors including Chen Weixing (Kuaidi), Star Xu (OkCoin), Anthony Di Iorio (Ethereum, Jaxx Blockchain Interface), Jeremy Gardner (Augur), Fenbushi Capital’s Managing Partner Bo Shen, and angel investor Xiaolai Li.

About Qtum

Qtum is a hybrid blockchain application platform. Its core technology combines a fork of bitcoin core, an Account Abstraction Layer allowing for multiple virtual machines including the Ethereum Virtual Machine (EVM) and Proof-of-stake Consensus aimed at tackling industry use cases. The Qtum Foundation, headquartered in Singapore, is the decision-making body that drives the project development. The Qtum Foundation has engaged one of the world’s leading professional service providers, PwC, for project management support.